How to secure awards program sponsorship

Finding sponsors for your awards program can be an incredibly effective way to cut program costs and bring your awards program to life. It can help bring increased visibility and sustainability to your awards while making the program more financially viable.

Attracting sponsors and securing the support you need doesn’t have to be a complicated process. In this blog, we’ll dive into some tips on how to garner sponsorship for your awards program.

What is awards sponsorship?

Awards program sponsorship refers to an arrangement in which an individual or organisation funds or supports the awards program, providing financial or in-kind support to ensure the success of the awards program.

Sponsorship can come through traditional funding and monies, or through other types of support, such as media sponsorship, where the sponsors promote the awards program through their channels.

This sponsorship benefits both the organisers of the awards program and the sponsors. While the organisers enjoy financial support, access to non-financial resources and expertise as well as a boost in reach and promotion, the sponsors enjoy more exposure, positive brand image, targeted marketing opportunities and increased return on investment (ROI).

6 Steps to garner sponsorship for your awards program

1. Analyse your awards program for sponsorship opportunities

Take a moment to make a detailed study of your awards program to clearly define its goals, mission, values, past successes and target audience. This can give you better insight into the program’s features and value proposition.

Detailed knowledge of your awards program ensures that you scout for potential sponsors whose objectives and values align with yours. It also ensures you effectively communicate the benefits to sponsors.

2. Identify potential sponsors

To identify the right companies or organisations to potentially sponsor your awards, pay attention to those within your industry and related industries. Usually, such entities share the same target audience as you, so the exposure should matter to them.

Look out for sponsors that are financially stable and have in-demand brands. Organisations with values and missions similar to your awards program or those that have sponsored similar programs before are also viable options. They’ll be more welcoming to your sponsorship proposal.

3. Propose sponsorship to targeted organisations

It’s time to reach out! A sponsorship pitch comes in handy at this stage.

To effectively pitch for sponsorship:

• Contact the relevant decision-makers in the organisation such as sponsorship managers, marketing or public relations managers, business development managers, CEOs or corporate social responsibility (CSR) managers.
• Personalise your pitch to demonstrate genuine interest and diligence. Emphasise the alignment of your mission and values with theirs.
• Highlight incentives and the value of sponsoring the program.
• Leverage raw data, success stories and testimonials to consolidate your pitch and enhance credibility.
• Outline various sponsorship packages available for them to make a choice

4. Follow up and maintain communication

In the realm of sponsorship, persistence is the key that unlocks countless opportunities. Multiple touchpoint messages and continued communication are a necessity to secure support for your awards program.

After your initial connection with potential sponsors, a follow-up is necessary if they don’t respond. It draws their attention to your sponsorship proposal and gives you an idea of their interest in the arrangement.

Communication with potential sponsors gives you the chance to address whatever concerns they may have. Gear up for negotiations and include the final terms in the ultimate sponsorship agreement.

5. Provide high exposure to their branding and presence

Be sure to give your sponsors high-value exposure across your awards platform and experience. Your program participants and community should see the sponsorship branding and offerings in multiple places in their awards experience.

6. Communicate frequently; ask for feedback

It’s crucial to hold up your end of the bargain when you receive sponsorship for your awards program and deliver on the promises outlined. Keep your sponsors updated with details of the awards program to breed transparency and trust. And after the program concludes, ask for their feedback for next season’s program.

At its core, sponsorship is about more than gaining support. It’s about building long-lasting, meaningful and mutually beneficial relationships.